Overview
CVS Health is a U.S.-focused health care company operating across health insurance, pharmacy benefit management and care delivery, and retail pharmacy and consumer wellness. Its three principal businesses are Health Care Benefits (including Aetna), Health Services (including CVS Caremark), and Pharmacy & Consumer Wellness (CVS Pharmacy). Its services include medical and pharmacy coverage, prescription and specialty pharmacy services, clinical and care-delivery offerings, and retail pharmacy, vaccinations, and health and wellness products.[1][2][3]
The company states its purpose is “to simplify health care one person, one family and one community at a time.” The latest full-year figures identified are for fiscal 2025: CVS Health reported $402.067 billion in revenue, and at its 2025 Investor Day reported more than 300,000 colleagues. Its U.S. presence includes about 9,000 retail locations as of December 31, 2025. CVS traces its origins to the opening of its first Consumer Value Store in Lowell, Massachusetts, in 1963.[4][5][6][3][7] [1][2][3][5][4][6][7]
Products & services
CVS Health’s products and services include Aetna health and benefit plans covering medical, pharmacy, dental and behavioral health, as well as Medicare Advantage and Supplement, prescription drug plans, Medicaid management and employer-sponsored coverage. CVS Caremark provides pharmacy-benefit management services, including plan and formulary management, pharmacy-network administration, specialty and mail-order pharmacy, clinical and disease-management programs, and services for providers and 340B covered entities. Its care-delivery offerings also include Signify Health’s health-risk assessments and value-based care, Oak Street Health’s primary-care centers for Medicare-eligible patients, and Cordavis’s biosimilar commercialization and co-production activities.[1][8][9]
CVS Pharmacy dispenses retail and specialty prescriptions and offers vaccinations, patient-care programs, infusion services, health and wellness merchandise, and pharmacy services online and through retail locations. Its ExtraCare loyalty program provides sale pricing, personalized coupons and ExtraBucks rewards; ExtraCare Plus is subscription-based. CVS also offers MinuteClinic care in person and virtually, and CVS Specialty supports people with complex conditions through pharmacist- and nurse-led services, counseling, digital tools and infusion care. CVS reported about 4,500 proprietary-brand products, which accounted for approximately 20% of front-store revenue in 2025.[3][10][11][12] [1][8][9][3][10][11][12]
Geographic presence
CVS Health’s reported geographic presence is centered on the United States: its Pharmacy & Consumer Wellness segment operated approximately 9,000 retail locations at December 31, 2025, and dispensed approximately 28.5% of total U.S. retail pharmacy prescriptions during 2025. CVS also reported approximately 9,000 retail pharmacy locations as of June 30, 2026.[3][13]
Aetna’s Health Care Benefits segment served an estimated more than 37 million people as of December 31, 2025; Health Services provides care in clinics, virtually, and in the home. CVS Health lists its corporate headquarters in Woonsocket, Rhode Island. The reviewed reporting does not provide revenue by country, state, or U.S. region, nor a geographic breakdown of employees or retail locations.[1][9][14] [3][1][9][13][14]
Business segments
CVS Health reports four segments: Health Care Benefits, Health Services, Pharmacy & Consumer Wellness, and Corporate/Other [15]. For FY2025, their approximate shares of consolidated revenue were 35.6%, 41.0%, 23.3%, and 0.1%, respectively. These estimates use segment revenue from external customers plus segment-assigned net investment income, divided by consolidated revenue; intersegment revenue is excluded [16].
Health Care Benefits comprises Aetna’s health insurance and related medical, pharmacy, dental, behavioral, Medicare, and Medicaid offerings [1]. Health Services includes CVS Caremark’s pharmacy-benefit management, clinical services, and care delivery through clinics and virtual and home care [9]. Pharmacy & Consumer Wellness covers CVS Pharmacy retail and infusion prescriptions, related pharmacy services, health and wellness merchandise, and pharmacy fulfillment [3]. Corporate/Other includes corporate and administrative activities and other residual items [17][18][19]. [15][1][9][3][17][18][19][16][16][16][16][16][16][16][16][16]
Company history
The first Consumer Value Store opened in Lowell, Massachusetts, in 1963, and the company adopted the name CVS in 1964. Melville Corporation acquired CVS in 1969. From 1990 to 2004, CVS expanded through acquisitions including Peoples Drug, Revco, and Eckerd.[7]
In 2007, CVS acquired Caremark, combining its retail pharmacy business with a pharmacy-benefit manager and becoming CVS Caremark. In 2014, it adopted the name CVS Health and ended tobacco sales in its U.S. pharmacies.[7][20][21]
CVS Health completed its acquisition of Aetna in 2018. In 2023, it completed acquisitions of Signify Health and Oak Street Health, extending its operations into in-home health evaluations and primary care. David Joyner became president and CEO in October 2024, succeeding Karen Lynch.[22][23][24][25] [7][20][21][22][23][24][25]
Sources
- CVS HEALTH Corp — Full financial report (2025 Y)
- www.cvshealth.com[4]
- investors.cvshealth.com[6]
- www.cvshealth.com[7]
- www.cvshealth.com[11]
- www.cvshealth.com[12]
- www.cvshealth.com[13]
- www.cvshealth.com[14]
- CVS HEALTH Corp — Full financial report (2026 Q 2)
- www.cvs.com[20]
- www.cvshealth.com[21]
- investors.cvshealth.com[22]
- www.cvshealth.com[23]
- www.cvshealth.com[24]
- www.cvshealth.com[25]
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